TTC Protocol - Decentralized Social Networking that Rewards Users

With the advent of platforms such as Facebook, Twitter, Instagram, online interactions in the form of text photos, videos have become very popular. It is true that this "Web 2.0" and Social Media have changed all of our lives. And yet for all the goods, there are some major flaws with the existing design. The "Cambridge Analytica" debacle has dominated the news headlines this month and many commentators have pointed out the centralized architecture of platforms such as Facebook as the primary cause and a huge issue moving forward. To make things worse, all of these centralized platforms are leaning towards policies that favor "paid" content as opposed to "quality" content. Further, the present systems offer absolutely "zero" monetary incentives for the end users. Hence, there is an increasing need to usher in a new era of social media networks that are a)decentralized & distributed by design b) prioritize original and quality content over paid and c)rewards the end users. The TTC Protocol is such a decentralized and token-incentivized protocol that will facilitate the creation of open, inclusive and reward based social networking.

TTC Protocol is a blockchain based decentralized protocol where social network users are rewarded for creating, distributing and engaging with other users and their content. Instead of driving the commercial value solely to the associated platforms and their owners/maintainers (like FB, Twitter do), the TTC Protocol will incentivize the users of the platform by rewarding them with native cryptocurrency tokens( TTC tokens). Further, advertisers can promote brands and products through the TTC Protocol’s advertising platform the profits from which will go directly to users. This incentive-based social networking will create a system of pro-active users engaging in a healthy atmosphere, ultimately leading to exponential growth. The protocol built on the Ethereum network will use a combination of both on-chain and off-chain transactions resulting in a "semi-centralized system".

TTC Protocol as the name suggests is intended a protocol, it cannot be a social network or a decentralized application by itself. Instead, you would have third-party developers and other service providers utilizing the protocol and building dapps. The first of its kind dapp in this regards will be tataUFO, a Chinese based social network service with more than 10,000,000 users.

Core to the functioning of the TTC ecosystem is the native TTC token which is to reward users depending on their contribution levels to the platform. TTC token rewards are classified into 3 different types.

• Content - For rewarding creators who post quality content and engage to build quality content, including liking, reporting etc

• Reputation - It is somewhat similar to the "Grammy Hall of Fame" award and rewards loyal users for their achievements, longevity, and commitment to the platform.

• Advertising- Intended for users engaging with advertisements, participating in surveys etc.

For every reward type, there is an associated calculation process/algorithm that takes various factors into consideration. For example, for the content reward, you have a 24-hour value calculation cycle rule (An assumption that only those interactions occurring within the first 24 hours after a piece is published results in generating value for that piece and any interactions after the first 24 hours are trivial)

The TTC protocol will also incorporate several mechanisms to counter fraud and abuse. These steps include System identification & Quarantining, Reporting, and Auditing. Since the TTC protocol is "open", developers will find it easy to integrate and build dapps. Some of the regular use cases of TTC tokens include the purchase of Emoticons, Chatbots, Polls, Private gifting, Discount coupons.

The Singapore based TTC Foundation is entrusted with the task of ushering in a new era of social networking through the TTC protocol. All the TTC team core members are pros, led by Brian CHEONG,​ who is also the CEO of tataUFO. The ERC-20 based TTC tokens are up for sale through an​ ICO event which is coming soon. To learn more about the ICO, Whitelist and Token Metrics visit the website

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Disclaimer: I am not a financial advisor. This post is intended as a product review and not an investment advice